Nexans: Ανακοίνωση

Η Nexans Ελλάς γνωστοποιεί επιστολή του μετόχου πλειοψηφίας, Nexans Participations, την οποία μόλις παρέλαβε:

"Paris, 28 May 2015

Nexans Participations confirms its support for the proposed Nexans Hellas capital increase

Nexans Participations hereby confirms its intention to support for the proposal of Nexans Hellas to seek Shareholder approval for a share capital increase at the shareholders' meeting to be held tomorrow. Nexans Participations has previously informed the company that in case the proposal is adopted to raise funds of up to 21,000,000 Euros, Nexans Participations stands ready to exercise its preemptive rights to subscribe, and commit the needed funds to Nexans Hellas through equity.                                                                                                        

Nexans Participations believes a capital increase will strengthen Nexans Hellas' financial situation which is clearly in the interest of Nexans Hellas and its stakeholders, especially at a time where the macroeconomic environment in Greece remains very difficult, and given the increasingly high interest rate available for Greek borrowers in the international markets.  Without this share capital increase, Nexans Hellas interests' costs will rise sharply in 2015, as its financing sources align with market rates and conditions as stated by Nexans Hellas in its Q1 accounts publication.

Further, the proposed share capital increase would address the Nexans Hellas's current high financial ratio of debt to EBITDA.

Therefore Nexans Participations intends to commit funds in Nexans Hellas and to Greece through equity, although this will dilute and subordinate part of its interests in Nexans Hellas from debt to equity. Subscription by Nexans Participations to a capital increase of Nexans Hellas is therefore a sign of the majority shareholders' confidence in operations and stability of Nexans Hellas on the long term. 

Nexans Participations regrets, as must other shareholders of Nexans Hellas, the company's weak economic performance in the past two years, and the impact on the value of its investment in Nexans Hellas.  Nexans Participations understands that this is largely due to the very difficult economic conditions affecting the demand for cables in Greece which have been a driving factor outside of Nexans Hellas' control. Yet as this inherent to its shareholder's status, Nexans Participations will continue to bear the risks and opportunities of this economic situation, reflecting its optimism in the long term prospects of Nexans Hellas. 

Nexans Participations hopes that the other shareholders of Nexans Hellas will also continue to support Nexans Hellas and exercise their pre-emptive rights and in response to certain incorrect information expressed publicly or privately, it strongly denies any wish to see minority shareholders excluded from the process.

Nexans Participations would welcome that other shareholders share its confidence in the future of Nexans Hellas and likewise commit to reinforce the equity of the company pro-rata their shareholding."

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